Credit application Equifax, TransUnion, and Experian are the three major credit reporting companies. Each firm collects credit data from a number of sources and sells it to subscribers. Credit agencies then utilize the information acquired to make a credit decision for a application. Each company is responsible for producing its own credit reports, since they do not share information.

Creditors are not compelled to provide credit information to the credit bureaus, which complicates the examination of an applicant's credit worthiness; and many creditors do not report to all three agencies, which explains why your credit score from each agency differs.

Due to the fact that each credit bureau's credit information is weighted differently in each kind of score model, what qualifies as an outstanding credit score for one bureau may not qualify for another.

There are three primary types of credit score models: FICO, VantageScore, and others.

The Federal National Mortgage Association is now averaging credit scores through their automated underwriting software. In past years, the lowest middle score was used by lenders and automated underwriting systems.

For example:
Borrower 1) Scores: 590, 605, 648 Middle Score: 605

Borrower 2) Scores: 661, 693, 693 Middle Score: 693

Under the previous calculation, the middle score of 605 was used in the underwriting/approval process.
But now the representative credit score is obtained by averaging the credit scores.

Here's a calculator that will average the credit scores:

Conclusion

In conclusion, the credit score average calculator is a useful tool for anyone who is looking to take out a loan. It can help you to understand what your credit score means and how it can impact your loan. This information can be helpful when you are trying to decide whether or not to take out a mortgage.

	Experian	Transunion	Equifax	Average Score
Borrower 1
Borrower 2
Average Credit Score